Mortgage Brokers

These agents are intermediaries in mortgage management, obtaining advantages regarding both interest rates and contractual terms for their clients.

Wednesday, May 27, 2009

During the real estate boom in Panama, these intermediaries—people with good connections in the banking and real estate market—had foreign investors, generally from the U.S., as their main clients, assisting them in the process of obtaining mortgages for properties valued at over $200,000. Now that this type of investment is scarce, mortgage brokers are looking for Venezuelans who are arriving en masse and local clients who need to buy housing.

Roni Marion Lawson, in his analysis of the topic in Martesfinanciero.com, said: "Banks are more flexible when they deal with mortgage brokers because brokers have become a secure channel for customers."

More on this topic

More Mortgages in Panama

May 2012

In January 2012, there were 202,000 active mortgages, which is an increase of 4.2% compared to 2011.

Figures from the Panamanian Credit Association (CPA) show that in January 2012, there were 202,000 active mortgage loans, representing an increase of 4.2% compared to the figures for the same period in 2011.

Regional Mortgages and Real Estate

April 2012

After its ratification in El Salvador, the Regional Mortgage treaty still needs to be approved in one more country to come into force.

Salvadoran entrepreneurs welcomed the legislative ratification of the Treaty on Free Movement of Goods and Services, known as the ‘hipoteca centroamericana’ or Central American mortgage.

Residential Mortgages in Panama

March 2010

Right now, Panama’s mortgage market is very favorable to consumers. 29 banks are offering preferential interest rates, up to 98% 30 year financing, waiving commissions and free appraisals.

A new real estate wave is bringing the market back to life, although without the same strength in all areas. The neighborhoods of San Francisco and Bellavista are currently seeing the most growth in construction.

Debtor Execution Worries Assembly

July 2009

Embargoes enforced by banks for non payment of debts have caused the Salvadoran Assembly to convene the financial system trade unions.

Representative Alejandro Dagoberto Marroquím called for the Financial Committee of the Legislative Assembly to suspend embargoes through transitory measures.

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